Case studies

Success stories

We asked our clients to give honest accounts of their experiences working with Horsfield & Smith. It’s safe to say we’re proud of the responses they provided, demonstrating the power of our truly personalised services. Whatever your line of business, we’re sure you’ll find an echo of the challenges you face and the ambition you’re pursuing in the case studies below.

iConservatories

Background

A manufacturer of solid timber roofs for conservatories.

Challenge

A growing business who felt they were being held back by a lack of information on how the business was performing in terms of profitability until the accounts were prepared at the end of the financial year. The company had outgrown their previous accountant who carried out their book-keeping and compliance work. The book-keeping was being prepared on SAGE by the accountant quarterly to submit their VAT returns. The directors were effectively running their business from their bank balance.

Solution

Horsfield & Smith advised that in order to understand the performance of the company, the preparation of management accounts on at least a quarterly basis was essential for a company of its size, accompanied with a quarterly meeting to discuss performance.

Horsfield & Smith also stressed the importance of looking forward to the future instead of historic performance. In order to do this we suggested doing daily book-keeping instead of once a quarter.

Outcome

Our client converted from SAGE desktop to Xero cloud accounting and haven’t looked back since – this enabled Horsfield & Smith to manage the book-keeping on a daily basis in real time.

The company has gone from strength to strength in the past two years including purchasing their own building and moving from rented premises in early 2018.

We now prepare monthly management accounts together with ongoing Key Performance Indicator monitoring and monthly strategy meetings.

We also carry out tax planning exercises to minimise their corporation tax.

Horsfield & Smith have become part of the finance team.

What we can do for you

Find out more about the full range of business and tax advisory services Horsfield & Smith offers to businesses and individuals across Greater Manchester and the North West of England and see how we can help you achieve your goals for growth.